Fisker (NYSE:FSR) Trading Down 28.2%

Shares of Fisker Inc. (NYSE:FSR) were down 28.2% during mid-day trading on Tuesday . The company traded as low as $0.09 and last traded at $0.09. Approximately 62,229,286 shares were traded during trading, a decline of 63% from the average daily volume of 166,496,208 shares. The stock had previously closed at $0.12.

Analysts Set New Price Targets

FSR has been the topic of several recent research reports. Barclays dropped their price target on shares of Fisker from $4.00 to $1.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 24th. Evercore ISI reaffirmed an “in-line” rating and issued a $2.00 price target (down previously from $6.00) on shares of Fisker in a research report on Monday, December 4th. TD Cowen cut shares of Fisker from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $11.00 to $1.00 in a research report on Wednesday, January 17th. The Goldman Sachs Group dropped their price target on shares of Fisker from $2.00 to $1.00 and set a “sell” rating on the stock in a research report on Monday, December 4th. Finally, R. F. Lafferty reaffirmed a “hold” rating and issued a $2.00 price target (down previously from $3.00) on shares of Fisker in a research report on Friday, March 1st. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Fisker presently has an average rating of “Hold” and an average target price of $2.76.

Fisker Stock Performance

The company has a debt-to-equity ratio of 3.28, a quick ratio of 1.05 and a current ratio of 1.68. The stock has a market cap of $31.43 million, a PE ratio of -0.04 and a beta of 0.71. The company’s 50 day simple moving average is $0.56 and its 200 day simple moving average is $2.55.

Fisker (NYSE:FSR) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.19). Fisker had a negative return on equity of 110.93% and a negative net margin of 278.72%. The company had revenue of $200.07 million for the quarter, compared to analysts’ expectations of $332.66 million. Analysts expect that Fisker Inc. will post -0.43 earnings per share for the current year.

Institutional Investors Weigh In On Fisker

Several large investors have recently modified their holdings of the stock. Captrust Financial Advisors increased its stake in shares of Fisker by 34.3% during the 1st quarter. Captrust Financial Advisors now owns 4,390 shares of the company’s stock worth $57,000 after purchasing an additional 1,121 shares during the last quarter. Penserra Capital Management LLC increased its stake in shares of Fisker by 8.2% during the 1st quarter. Penserra Capital Management LLC now owns 17,242 shares of the company’s stock worth $220,000 after purchasing an additional 1,308 shares during the last quarter. Cetera Advisor Networks LLC boosted its holdings in Fisker by 13.0% in the 1st quarter. Cetera Advisor Networks LLC now owns 12,693 shares of the company’s stock worth $164,000 after buying an additional 1,464 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Fisker by 20.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,572 shares of the company’s stock worth $60,000 after buying an additional 1,809 shares during the period. Finally, Fort Point Capital Partners LLC boosted its holdings in Fisker by 0.8% in the 2nd quarter. Fort Point Capital Partners LLC now owns 252,000 shares of the company’s stock worth $1,421,000 after buying an additional 2,000 shares during the period. Hedge funds and other institutional investors own 33.58% of the company’s stock.

Fisker Company Profile

Fisker Inc develops, manufactures, markets, leases, or sells electric vehicles. It operates through three segments: The White Space, The Value Segment, and The Conservative Premium segments. The company is also involved in asset-light automotive business. In addition, it offers fisker flexible platform agnostic design, a process that develops and designs electric vehicles in specific segment size.